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the dollar. concern about the strength of the euro overall could be a threat. undercurrent to the u.s., which looks like to be a negative one. >> the big macro, everything out of japan, not so great. but the united states banking story, i think, is as you mentioned, carl, is it a real u.s. economy, what is the read on it. people are doing better. and this is a section that was terrifically performing in the s&p last year. and you could argue, wait a second, it's run ahead. but it's not selling off today. i thought people thought it would sell off. we're not getting that kind of judgment. >> a lot of up moves on the back of goldman sachs earnings. take a look at the financials. [ bell ringing ] >> taking a look at the open here. no surprise. oh, look, apple is higher by 1.9% in today's session. helping the nasdaq in an up trend. cutting apple to set to perform. a lot of the reasons we heard before, but apple will have bottomed, either yesterday, or today. calling the bottom in shares of apple. remember, on the way up, in september, they're worried about the impending pop on apple. making the m
, disappointing industrial production numbers in spain and the uk. but the euro is at a nine-month high this morning. we begin with the s&p, a five-year high. a lot riding on bank earnings. the report's not perfect. american express joining the list of financials that are cutting jobs. >>> best buy's troubles continue. they're not the only retailer under pressure this morning. jcpenney capping a bad week. >>> boeing under official view as a probe is taken on the plane. a cracked inshield and oil leak. >>> remember a cheaper iphone? a top apple executive said forget it. the company continues to focus on china. >>> we'll kick off with wells fargo, kicking off q4 results. the lending business came in a little bit lower than many analysts expecting. the numbers coming out after american express announced plans to cut 5,400 jobs and the s&p closed at fresh five-year highs. jim, it's been said, wfc, probably the most important report of the week. what kind of grade do we give it? >> the whisper was they weren't going to do this anyway. i don't know anyone would think they would -- people were
, the euro, we should note, is hitting 11-month highs against the u.s. dollar. marginal changes on a percentage basis. a road map this morning starts off with apple. even more doubts about the demand for the iphone 5 sending shares below. >> did you see your paycheck on friday? the payroll tax hike obviously kicking in for many americans. felt like a pay cut. will this be a temporary shock or a headwind as stocks hover at five-year highs. >> ubs achoirs tnt after a commission throws up road blocks. >>> to the top story. in the pre-market, we've seen apple shares fall below $500 for the first time in 11 months. the tech giant has cut its orders for iphone 5 components because of weaker than expected demands. screen orders for january to march quarter have fallen about half. the company had planned to order. apple said to cut orders for components other than screens. now, jim, we've had sort of this concern about demand for the iphone 5. i think last week when deutsche bank came out with the note from the japanese team, specifically citing this very issue, that's when the concerns
coming in stronger in the real star here. the euro topping 135 for the first time since april 2010. and strengthening even more after the gdp release. overnight in iasia, the nikkei p from 2010. the road map starts with the markets. today may be the day some milestones are hit. we're just about 2% away from dow 14,000. a level we have not traded above since october 17th, 2007. the s&p 500 less than 4% below its october '07 record high. can the bulls overcome the news of the surprise contraction in gdp. >> anticipation building, at least certainly here for research in motion. that being the blackberry 10, will it be enough to sustain the run. we'll take a look. >> amazon shares rocketing higher this morning. investors looking past the revenue and weak guidance, focusing instead on the gains in operating in gross margins. shares are set to open at record highs. >> look at chesapeakchesapeake,d of directors announcing the founder retiring in april. >> we do begin with a stunning gdp report. the economy contracted to 0.1% in the fourth quarter. first decline since 2009. this as we rema
. the currency markets, open for trading for a lot longer today than stocks. the euro is still below 133, the recent high. it's interesting to see that the risk-on currencies are a bit to the upside. >> watch gold, too. i think gold, 12th year of good performance. >> yes. >> i would emphasize gold should be part of people's portfolios. >> while i don't disagree with you, because i've been wrong on gold two years in a row, silver better performer last year than gold. >> numbers are numbers. i find that the gld is just a very, you know, good way, i hope it goes down, the rest of your portfolio goes up. but remember, in the last 12 years we've had deflation, inflation, good control, bad control, but gold is steady because gold is in short supply in the world. >> i thought we were being positive. i'm optimistic for the next year or so. ten years out, different story. oil prices, right? while they've gone up in the last couple weeks, gas prices are down. >> gasoline. >> gasoline. and nat gas remains fairly low. >> nat gas at four-month lows right now. >> let's not underestimate the extra mone
at the pound side. let's look at the euro versus the pound. as you see on this chart, pound's getting hit pretty hard. this is a 13-month low on the pound. let's switch around some of these controls trades. look how fascinating this is. let's not pare that losing pound to the pound/yen. pound/yen is at 31-month highs. if we look at the euro/yen, it's at 21-month highs. if we look at the dollar/yen, it's a 31-month high. even though the pound is having a tough time against the eurozone, everybody's having a party against the yen. these cross trades have been one of the biggest surprises to many for 2013 thus far. and it hasn't taken long. the other thing, of course, durables today is one of the reasons we're up several basis points, again, along with stocks. but if you look at the proxy for capital spending, up only .2% for the month of december. that was a little disappointing and maybe one of the more important components of today's durable series. jim, back to you. >> thank you, rick. let's check out the latest news in energy. sharon? >> the fact that hess is exiting the refining busine
. >> thank you very much. what will it mean for the euro if the ecb cuts interest rates at 8:00 a.m. tomorrow morning? good morning. positioning for a cut? >> i'm positioning short. but i don't think they're going to cut this time around. there's so many reasons for the ecb to want to cut rates. i think we're looking at an actual cut three months out. german economic data has been pretty weak. i feel like that the position for euro wants to go to the downside. we saw poor german data, obviously the core of the european union. and the reason the ecb hasn't let the euro go. i think they're going to prep the markets next time for a cut. >> what are your levels? >> well, 131.20 was interesting. a level we tried to break through all fall. we finally got above it. now the market in the technicals should be support. it didn't hold the support. you want to go short the euro. >> are you a dollar bull overall? are you getting behind other trades on the basis that the greenback could go higher, higher interest rates in america? >> absolutely, simon. the dollar has this underlying bid ever since the fed
? >> pmi, the best rating in a while. the euro weakening against the u.s. dollar, watch thanksgiving yesterday, continues to trend today. there is a bid to safety in today's session. i hate to use that phrase you to put it simply, the safe havens out there as we are staring down the barrel dealing with the debt ceiling and spending cuts. >> i thought they would have a tailwind rather than a headwind on currency. not in sync with a bullish picture, got to understand that one of the great reasons we have been able to have a good run, the dollar getting weaker. and also, unless people are short today, i know people are short, nordstrom's very heavily, short target, short gap, that is the only thing really going up. the mean time, i keep pointing out these dollar stores, they are horrendous today. family dollar really terrible. >> family dollar down 12%. >> you have nordstrom going higher, family dollar going lower, people felt that maybe the dollar stores would catch a bid and nordstrom would have weakness because of the high-end consumer being worried that clearly has not been the case
look at the euro versus the dollars, wow, euro is screaming today. you look at the euro/yen, that's screaming as well. the dollar/yen is screaming as well. so the dynamic of the yen continuing to be under pressure. will this be a huge move? many think, if you talk to some of the japanese officials, they're say it's just getting back to a reality after the end was pretty much decimated about a year ago with respect to too strong relative to the other currencies. no matter how you slice it, all that meats is where we are now and where we're going in the future. >> thank you we'll find out the latest movements in energy. sharon, take it over. >> it's all about algeria. a lot of traders are paying attention to the ongoing hostage situation at the gas field where islamist militants had attacked that facility and still holding some folks hostage there. we have learned from the algerian news agency that about 45 hostages, including some americans had escaped the complex, but still bp is confirming that the situation remains unresolved. it tellses it has confirmation that five of its empl
to the opening bell. we're watching also outside of equities a big move in the euro u.s. dollar up 1%, which is a huge move for the currency markets. we're also watching oil. oil also up by about a percent or so on the back of the very good china export data that came in overnight. >> nigerian barges out there with huge cargos as i'm trying to rationalize how is it that o oil -- we're paying so much for gasoline. >> mineral exploration company based in vancouver. owner and operator of fitness clubs in the northeast. up pretty much across the board. just jumping out at me, intel, hewlett-packard and dell still stringing together pretty nice gains. hugh let hewlett-packard up. very fascinating report out yesterday, we had tony on last night on fast talking about the sum of the parts analysis. if hp breaks up or just realized to its full potential under meg whitman, $29 a share is what he's pegging some of the parts analysis at. >> when you pronounce something dead, whether sprint versus verizon and at&t versus clearwire, what we discover is there's a resilience even to companies that we basica
's something that has been off on the equity markets. positive comments, relinch aunc the euro. >> i remember when euro was in the last debt gross. wrong. >> great britain, uk, still eurozone. >> a lot of commotion down here. we look at the live feed from davos, switzerland. >> they're not happy. [ bell ringing ] >> at the nasdaq, starz celebrating its spin-off from liberty media. >> there's speculation about starz. but when i talked to a number of people who run various media companies, it might have been considered as buyers of that. they're saying, not me, check with that guy, and he said, not me, check with that other guy. we'll see if there's a potential acquirer of starz. >> netflix yesterday in the conference call, hastings was saying the great cable channels need us. you can't just jump in. before "breaking bad" you need a stream. >> netflix stepped in where starz has stepped out. >> s&p gainers for the year, netflix number one. >> is that true? >> up almost 59%. number two. best buy, number three dell, if you can believe that. >> name me three stocks that have come back from the dead
their currency. look at this chart, they seem to have been somewhat successful. this is the euro versus the swiss. there's been a major appreciation of the euro. it's basically at 20-month highs. what's fascinateding is, now look at the next chart. we don't have negative yields in a swiss two-year anymore. see how the charts correlate? basically that's a barometer. funding issues have receded, swiss are getting back to normalcy. now it's all about growth and employment. and all of that information comes out at the end of the week. david faber, back to you. >> all right. thank you very much, mr. santelli. well, yesterday's shares of hess up rather sharply in part because of the company's announcement of a number of different things it's doing refining its assets. interestingly it didn't react as much as one might have anticipated given today's move from what we learned is likely to be a move by elliott associates on the company from an activist perspective. this morning we got that move. and boy, did we ever get it. the stock itself moving up sharply. let me quickly give you some of the particular
here. foreign exchange quickly. look at the euro/yen, continues to forge higher and higher, you see on this chart, we are just a couple months away from three-year highs. if you look at the dollar again, one of the bright spots on the green back, which by the way, made new lows on the year and continues to hover at those levels, we are at the best level against the yep in 2 1/2 years, june of 2010. we want to monitor. david faber, viacom news? >> let's start with viacom. like to focus on these media companies, having followed them for so many years. doing this quarter perhaps, a bit more hope that aid see advertising revenues knocked down quite as much but investors don't seem to be scared off on the quarter, they are talking more positively about the outlook in terms of what we can expect for the next quarter and for sequential improvement in those numbers. let's look inside the numbers we can, there is advertising, affiliate fees numbers for viacom. capital return such an important theme throughout the media business these days. no surprise and no shock there that they bought back
talking about for weeks and it's been a home run, the euro/yen. we're not at the best levels of the day, but it is a friday. at least on trading floors, fridays have something in common. usually a little evening up with the markets. maybe look for some of these currency trends to run out of gas at least on a day trading basis. >> thank you, rick. don't forget the lift on china, gdp. sharon? >> the gainer here, leading the gains in the commodity sector based on that data out of china on growth industrial production, also keep your eye on what is happening in terms of the precious metals. we're looking at gold prices that have dipped a little bit here. not able to meet that resistance at the moving average. but silver continues to take off here. silver is actually the gainer for the week. the biggest gainer in the commodities complex for the week. we're looking at silver, actually silver coins running out of the u.s. there's so much investor demand for them. that's the story a lot of traders are talking about this morning. we're also keeping an eye on the wti oil price after it hit a four
. will you be afraid it could be much worse, euro crisis or debt ceiling or china hard landing, would it really spook you to the point that you get more nervous. nobody's bearish about earnings right now. they aren't. people think it's a -- the numbers are too high and they'll slowly come down, but they're not worried about a recession like they were in the fall, summer and fall of 2011. look, i think the earnings numbers will come down. if the multiple expands, it will be because people believe the policy will be there forever. if you're me, you're worried a little bit more about the fed balance sheet and the fact that it obviously robs from the future to do this unconventional policy. i don't really want to gamble that is a great long-term strategy. >> we've got to wrap up. i give you a lot of credit. you work for a firm that's got a year's retail platform and probably benefits from people buying stocks. do you ever get pressure from management at all? >> never at all. to be honest, i work at a firm with a bunch of great people. my job is to make people think. when you have a framew
only need to look at two charts. the first chart is the euro/yen. this comes back to the highest levels since the summer of 2011. when you include the dollar/yen in that chart, you have to go back an extra year. we're comping to the summer of 2010. in either case, the dynamic is the same. i keep harping on it, and it continues to be the best trade that the fx traders are dealing with for the last three or four months. that is, long anything against the yen. carl, back to you. >> thanks a lot, rick. talk to you in a little while. let's check out the latest moves in metals. >> good morning, carl. let's start with the slide in gold futures down a dollar may not seem like so much. when you look at the fact that gold is below $16.50 an ounce, a key technical level there, that is the reason why many traders say there's more bullish momentum in the gold market. add to that the fact that the latest report said the bullish bets for gold are at the lowest levels we've seen since august. a lot of investors are on the sidelines waiting to see what happens with the next round of budget talks. and no
of the euro is not likely anymore, and that's clearly the case. i think draghi has done a terrific job. and number three getting through the leadership transition in china and further stimulation in china. all of those three things are more positive than they have been at any point in the last several years. >> in no doubt about it. in terms of europe. you have the election in italy, bonds due, interest on the bonds due in spain. do these represent hiccups do you think? >> i think they're just challenges or marks in the journey. look at what the progress has been in europe. the progress with the fiscal constraint in portugal, in ireland, in spain. the role monti has played in italy and the leadership he's given that country. the steadfastness of merkel in germany. the fiscal restraint in the uk. all of these are saying we get it collectively. we need to show restraint, but we need to restructure at a pace our societies can absorb so we're going to have a continued series of steps. there's no big bang answer. >> speaking of the u.s. for a moment, a number of banks are getting out of fix
. that helped push the euro to the highs of the day. we're showing you the ten-year yield for spain over the last year. it's down -- we wanted to give you context. remember it was the summer when they were getting very nervous about 7% yields. now we're down to 5%. some of the spanish bonds very long term. due in 2041. so they have clearly regained some of the confidence of the markets. take a look at this six-month chart. the big decline in particular of nearly 30% when it comes to their long-term interest rates. european stocks, they were choppy today though. driven in part by a german news report that said german regulators are running a simulation on what would happen if banks were forced to split their retail and investment activities. think of german glass steagall. so they got hit particularly hard, falling more than 3% before recovering off the lows. there were rumors denied by the bank that they'd offer a profit warning. you can see the big hit here. the overall german market improved after the confidence data came out in the country. better than expected. but still, an overall
're talking about the euro currency versus the greenback. jim, back to you. >> great, rick, thank you. new shift in platinum and gold prices. a lot going on with gold. let's go to sharon epperson at the nymex. >> jim, we have not seen this since this spring. platinum prices now being more expensive than gold. we're looking at platinum rose above 1690 an ounce this morning. gold prices right around 1677 an ounce. we haven't seen this in ten months' time. but we have been telling you since the start of the year, that this is the year for platinum. that the supply issue is facing that market. the fundamental issues, a big reason analysts are looking for platinum to outperform gold this year. we are hearing from anglo american platinum in south africa. of course, the largest producer of lat numb in the world, saying it is going to close several of its mines in south africa and wants to return to profitability. it's worried about slow demand and rising costs. we're watching what's happening in the natural gas market, because natural gas reached the highest interday level so far this year on the
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